According to the words of a character from the famous video game Overwatch, “The world could always use more heroes.” Of course, none of us are gifted with special abilities or superpowers to help those in need, but there are more ways one could become a savior for those going through tough times. Modern-day heroes come in all forms and one of them are social entrepreneurs.
Compared to standard business models, social businesses aren’t just centered on making a profit. According to Investopedia, a social business is an organization that does dig into the sales of goods and services to a certain market, but it also focuses on solving various community problems. They aren’t considered as volunteer organizations though as they still partake in the selling of products or services.
As with standard business structures, social enterprises can benefit greatly from the use of technology. However, instead of maximizing profit, technology can be used to increase the impact and reach of their primary mission for a certain problem.
Catalyst Development notes of a few benefits that technology has on social enterprises. Dedicated apps can help a cause-driven company to expand its reaches beyond websites and social media accounts. Additionally, these apps can help increase engagement with the backers as they will have access to a more interactive platform for the social enterprise. They can also be used in data collection and education.
Perhaps the best use of technology for social enterprises is that it can help them build bridges with a larger pool of backers. Fundraising could be one of the biggest hurdles for social enterprises as people are very picky when it comes to the causes to support. Not all are also willing to provide financial support without getting anything in return.
One company that has been successful in helping out social enterprises reach their goals is Exponential, Inc. (XPO2), a cause-related technology marketing startup founded by French-American entrepreneur Dom Einhorn. The company places a huge focus on helping out social enterprises build up funds through its crowdfunding and impact investing platform.
XPO2 offers an array of services that would help support nonprofit organizations. These include marketing, fundraising, and even investment support. Additionally, XPO2 is able to increase corporate social responsibility and promote positive PR for companies. It provides these services successfully through its non-profit crowdfunding platform that entice backers to support a cause by giving them access to deals and discounts from their trusted merchant partners.
XPO2 will be fully launching a rewards-based crowdfunding campaign this June. In doing so, the company will be able to maximize its fundraising capabilities on behalf of nonprofit organizations under its programs.
As an experienced company in the field it has chosen to be a part of, XPO2 has already proven its mettle through the various NGOs it has been supporting. These include the Blue Mountain Humane Society, the Elephant Man project, Saigon Children, and several others more across the globe.
Social enterprises certainly mean good for solving various social problems, but they are still bound to face hurdles along the way. However, with the help of technologies like e-commerce platforms, they will be able to rise up against adversity to provide the help that others direly need.
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